[Travis McGee]

Another factor in favor of collecting coins: in the event of hyperinflation and currency devaluation, it is normal for the paper money to change by a few decimal points, but the old coinage is normally retained.

That is, four of the same old quarters or a hundred pennies will still buy a “new dollar.”It's just too expensive to convert to new coins, so often the old coins are retained.

You may wake up to the news that your $50,000 in the bank is now declared to be $5,000 “new dollars.” In that case, any coins you are holding are worth 10X more than the day before. Your paper money OTOH will have to be turned in at ten to one.

[knittnmom]

Will our debts also be converted to “new dollars”?

[sodpoodle]

The 1971 British currency conversion from sterling to decimal - should have been called “decimation” rather than ‘decimalization’.

[CodeToad]

Interesting take. I never thought of that. I guess the PTB believe there isn’t that much in coinage out there being held so might as well suffer a slight loss versus reissuing the coins.